What does this term used when used on estate agents details.
Phil
What does this term used when used on estate agents details.
Phil
It means that the house will not have any residents in it when you complete your purchase.
Rob Graham
I recently saw a house for sale with the people only selling if they could stay on as tenant. I'd not seen it before - can't imagine its common though.
An investor might see it an attractive proposition to have a ready-made income built into the property, ready to start earning from day 1.
In message , Rob Graham writes
True, but I am sure you will agree if I suggest that you modify that to being that 'nobody will have any 'physical or actual occupancy' or any 'rights of tenure' ' on completion of the purchase contract.
The reason I asked the question in the first place is that it seems there are vendors and/or agents who use the term which, to me, means 'as soon as legals done vendor will move out and buyer move in'. However came across a case recently where the vendor used the term but, when nearing an exchange of contracts, kept putting the date back to give him more time to find somewhere to move into.
Originally it was said he would move out entirely to suit the buyers wishes.
Phil
In message , Phil writes
I see want you mean but it doesnt mean that at all.
Unfortunately 'Vacant Possession' does not mean the vendor will move out quickly, jusr that when you acquire the property, whenever that may be, it wont have a tenant or occupant.
In message , Phil writes
Legally it means that the property will be vacant upon completion, whenever that is, if ever.
Many buyers, (and sellers), make various assumptions, which "surprisingly" usually interpret the term to favour themselves at the time.
Some estate agents make statements which mislead buyers or sellers, sometimes innocently, (albeit negligent or reckless), and sometimes deliberately.
Sure
Rob
Well you learn something every day. I always thought it meant the property would be empty of things (furniture, posessions). Does this mean you *can* leave any old junk behind when you move out?
KotF
My daughter bought a much larger house, vacated by the death of the owner. The relatives agreed to leave quite a lot of stuff behind, which would be useful to her, rather than clear the house.
In message , Kenny of the Fells writes
You must do what you have agreed to in the contract. If you haven't mentioned removing junk, and the buyer has not specifically had you agree to do it, then you can.
However, this would always be subject to any terms in the contract, which you and the buyer may not have read in detail, stating otherwise.
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